The World Travel & Tourism Council projects that travel will contribute $11.1 trillion to global GDP in 2024, a 12.1% YoY increase and 7.5% above pre-pandemic levels. This means one in every 10 dollars spent worldwide will be on travel. The US leads the sector with $2.36 trillion added to its economy in 2023. China, which saw a remarkable 135.8% growth in its travel sector in 2023, is expected to overtake the US as the largest travel market in the coming decade. In 2023, China's travel sector contributed $1.3 trillion to its GDP, placing it second globally. International visitor spending is set to increase by 16% in 2024, while domestic tourism spending will reach $5.4 trillion.